Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us  
Google
Web www.equitybulls.com
Market Commentary

| More

Post Market views - Sep 17, 2021 - Mr. Binod Modi, Head Strategy at Reliance Securities

Posted On: 2021-09-18 10:40:00 (Time Zone: IST)


Domestic equities witnessed high volatility today and profit booking was seen in many counters amid mixed global cues. Notably, benchmark Nifty opened with brisk gap-up and recorded fresh all-time high. However, heavy profit booking in PSU Banks, metals, pharma and realty dragged markets. Barring automobile and FMCG, most key sectoral indices saw profit booking. Additionally, midcap and smallcap stocks, which witnessed strong rebound in recent weeks, also witnessed selling pressure as Nifty midcap and smallcap indices fell over 1% today. Volatility index surged over 6% indicating unease at higher levels. Benchmark Nifty gained ~1.5% this week and around Rs4 trillion was added in investors' wealth during the week. Kotak Bank, Tech Mahindra, Bajaj Finserv and Bharti Airtel were among top Nifty gainers, while Tata Steel, Coal India, SBI and UPL were laggards.

Increasing possibility of earnings downgrade in the USA markets following sharp rise in Coronavirus daily caseload and continued reform measures undertaken by the government in India appear to have revived FIIs' interest in domestic market. An inflow of over Rs48bn in last three days from FIIs vindicates this. Additionally, we continue to believe that high frequency key economic indicators for Aug'21 in the form of GST collection, railway freight, auto sales volume despite semiconductor issues, power consumption, import-export data and fuel volumes indicate a sustained economic recovery on YoY comparison. Further, July month IIP at 11.5% (higher than consensus estimate) almost reaching to pre-pandemic level also offers comfort. Additionally, ease of retail inflation at 5.3% for August bodes well as this should essentially aid RBI to maintain its soft monetary policy stance to support ongoing recovery in economic momentum. In our view, while 1QFY22 GDP growth 20.1% indicating a sharp recovery, there has been sharp contraction in sequential comparison due to second wave of COVID-19 and growth is still lagging from pre-pandemic level. Hence, economy still needs policy support from government and RBI, which is likely to persist. India is at the beginning of capex revival phase and therefore corporate earnings recovery looks sustainable and premium valuations might sustain. Additionally, government's focus to improve credit growth through credit outreach programme and continued traction in PLI schemes augur well for domestic economy. While concerns over global growth due to recent rise in delta variant Coronavirus cases in different parts of the world continue to persist, we believe that underlying strength of domestic market remains intact. In our view, festive demand, recovery in rural demand and COVID-19 positivity rates will be in focus in the near term. We note higher government's capex and revival in industrials' capex should aid economic recovery. However, liquidity driven market may take a backseat in 2022 and investors must start focusing on quality aspect of companies, in our view.


Click here to send ur comments or to feedback@equitybulls.com





Other Headlines:

Daily Market Wrap - Oct 14, 2021 - Mr. Deepak Jasani, Head of Retail Research, HDFC Securities

Daily Market Commentary - Oct 14, 2021 - Bonanza Portfolio

Post Market views - Oct 14, 2021 - Mr. Binod Modi, Head Strategy at Reliance Securities

Technical View - Oct 14, 2021 - Mr. Nagaraj Shetti, Technical Research Analyst, HDFC Securities

Post Market views - Oct 13, 2021 - Mr. Binod Modi, Head Strategy at Reliance Securities

Daily Market Wrap - Oct 13, 2021 - Mr. Deepak Jasani, Head of Retail Research, HDFC Securities

Market in a strong position, a good move is expected from Banks, Automobiles and IT sector

Rupee - Oct 13, 2021 - Mr. Sriram Iyer, Senior Research Analyst at Reliance Securities

Daily Market Commentary - Oct 13, 2021 - Bonanza Portfolio

Technical View - Oct 13, 2021 - Mr. Subash Gangadharan, Senior Technical and Derivative Analyst, HDFC Securities

Daily Market Commentary - Oct 12, 2021 - Bonanza Portfolio

Daily Market Wrap - Oct 12, 2021 - Mr. Deepak Jasani, Head of Retail Research, HDFC Securities

Rupee - Oct 12, 2021 - Mr. Sriram Iyer, Senior Research Analyst at Reliance Securities

Post Market views - Oct 12, 2021 - Mr. Binod Modi, Head Strategy at Reliance Securities

Technical View - Oct 12, 2021 - Mr. Subash Gangadharan, Senior Technical and Derivative Analyst, HDFC Securities

Daily Market Wrap - Oct 11, 2021 - Mr. Deepak Jasani, Head of Retail Research, HDFC Securities

Daily Market Commentary - Oct 11, 2021 - Bonanza Portfolio

Technical View - Oct 11, 2021 - Mr. Subash Gangadharan, Senior Technical and Derivative Analyst, HDFC Securities

Post Market views - Oct 11, 2021 - Mr. Binod Modi, Head Strategy at Reliance Securities

Rupee - Weekly Wrap - Oct 9, 2021 - Mr. Sriram Iyer, Senior Research Analyst at Reliance Securities

Daily Market Wrap - Oct 8, 2021 - Mr. Deepak Jasani, Head of Retail Research, HDFC Securities

Daily Market Commentary - Oct 8, 2021 - Bonanza Portfolio

Post Market views - Oct 8, 2021 - Mr. Binod Modi, Head Strategy at Reliance Securities

The market will look for RBI Governor's commentary - Mr. Rahul Sharma, Co-Founder, Equity99

Daily Market Commentary - Oct 7, 2021 - Bonanza Portfolio

Daily Market Wrap - Oct 7, 2021 - Mr. Deepak Jasani, Head of Retail Research, HDFC Securities

Post Market views - Oct 7, 2021 - Mr. Binod Modi, Head Strategy at Reliance Securities

Daily Market Wrap - Oct 6, 2021 - Mr. Deepak Jasani, Head of Retail Research, HDFC Securities

Daily Market Commentary - Oct 6, 2021 - Bonanza Portfolio

Investors are advised to avoid fresh buying at current levels - Mr. Rahul Sharma, Co-Founder, Equity99

Post Market views - Oct 6, 2021 - Mr. Binod Modi, Head Strategy at Reliance Securities

Daily Market Wrap - Oct 5, 2021 - Mr. Deepak Jasani, Head of Retail Research, HDFC Securities

Rupee - Oct 5, 2021 - Reliance Securities

Daily Market Commentary - Oct 5, 2021 - Bonanza Portfolio

Post Market views - Oct 5, 2021 - Mr. Binod Modi, Head Strategy at Reliance Securities

Rupee - Oct 4, 2021 - Reliance Securities

Daily Market Wrap - Oct 4, 2021 - Mr. Deepak Jasani, Head of Retail Research, HDFC Securities

Daily Market Commentary - Oct 4, 2021 - Bonanza Portfolio

Post Market views - Oct 4, 2021 - Mr. Binod Modi, Head Strategy at Reliance Securities

Daily Market Wrap - Oct 1, 2021 - Mr. Deepak Jasani, Head of Retail Research, HDFC Securities

Daily Market Commentary - Oct 1, 2021 - Bonanza Portfolio

Post Market views - Oct 1, 2021 - Mr. Binod Modi, Head Strategy at Reliance Securities

Rupee - Sep 30, 2021 - Reliance Securities

Nifty on Hourly charts has shown weakness and has closed below its 100DEMA - Mr. Rahul Sharma, Equity99

Daily Market Wrap - Sep 30, 2021 - Mr. Deepak Jasani, Head of Retail Research, HDFC Securities

Daily Market Commentary - Sep 30, 2021 - Bonanza Portfolio

Post Market views - Sep 30, 2021 - Mr. Binod Modi, Head Strategy at Reliance Securities

Technical View - Sep 30, 2021 - Mr. Nagaraj Shetti, Technical Research Analyst, HDFC Securities

Daily Markets - Sep 29, 2021 - Mr. Deepak Jasani, Head of Retail Research, HDFC Securities

Rupee - Sep 29, 2021 - Reliance Securities


Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2020